Become a million pound practice

The Accountants Millionaires’ Club, led by Heather Townsend, is a community, set of tools and resources for accountancy firm owners. If you’re breaking six figures and looking to profitably scale to the magic million pound mark, then The Accountants Millionaires’ Club is designed, specifically, for you.

What would it mean to you if you could build a £1m practice while working fewer hours with less stress?

Could you finally realise your dream of being financially free? Would you now have peace of mind that your pension and a comfortable retirement was now sorted? Or perhaps you could finally prove to yourself that you could become a one million pound practice? Whatever your reasons, download your free copy of The Accountants Millionaires’ Club book.

Book a call to discuss if there is a good fit between what you want to do with your firm and the club.

Why is it so difficult to grow a one million pound accounting practice?

Once you’ve mastered the art of winning clients the early days of growing an accounting practice are relatively easy. However, the troubles start when you need to employ staff within your practice. In fact, when you get your practice to over £100,000 in turnover it can often feel that for every step forward you take two steps back. This is because you have entered the “work in/work out” trap – which every firm needs to get through.

Growing your accounting practice normally means long hours, high levels of stress and balancing your personal income requirements with keeping enough cash in the business to invest in growth. The irony is you probably started your practice because you didn’t want to be tied to a corporate job, and wanted the freedom of being your own boss.

You had grand ambitions to become your clients’ trusted advisor. So, how come you’ve got bogged down with the day-to-day compliance work of needy, low fee paying clients?

It doesn’t need to be like this.

Read on to find out how it could be…

Before working with Heather Townsend I was hyper stressed and working silly hours. I was struggling to pay the wages, fire fighting all the time and very much living hand to mouth.

After 2 years of working with Heather the size of my practice tripled, WIP was reduced by 80%, our profit leaks were eradicated, new profitable income streams were added, cash reserves were increased to two months of money in the bank, and I finally felt in control.

With Heather’s help I was able to change my dysfunctional team to a team with a strong team ethos and positive “can do” attitude. So much so that I was able to run my practice remotely from france for six months.
Jessica Pillow FCA CTA

Owner, Pillow May

What you need to be a One Million Pound accounting practice?

To grow your accounting practice you need to firstly get to the starting gate. This means having a strong personal reason to grow your firm, backed up by a winning vision and roadmap for how you are going to get there. Once you have found the time to implement your vision, its time to build a firm foundation for growth.

To create a firm foundation for growth you need to get yourself out of the dreaded “work in/work out” trap, build an efficient operation, create cash reserves, get the right people doing the right things right. When this is all in place you can get your team in place to deliver the day-to-day stuff but also execute your planned strategy for growth.

Only when you’ve established a firm foundation for growth can you scale up your practice. This means creating a suite of highly profitable services, such as advisory, which clients are desperate to buy and a stream of leads which allow you to scale predictably without the anguish of over-trading.

Book a call to discuss if there is a good fit between what you want to do with your firm and the club.

About the Accountants Millionaires’ Club

The Accountants Millionaires’ Club is a community and set of tools, regular events and resources to help you scale up your practice to one million pounds and beyond. If you join the club you will learn from industry leading expert Heather Townsend and her hand-picked advisory board members, who have all built industry-leading and award-winning cloud based practices.

Every month you will be invited to participate in three events. One event will be a virtual masterclass which will be focused on a topic to help you scale your accounting practice, such as how to move from strategy to execution. The second event will be a surgery session with one of our advisory board members on how they implemented something in their practice, e.g. selling business coaching to clients or implementing a fee increase.

But the club’s events are not just for you the practice owner. Every month there will be a virtual masterclass aimed at developing your staff. You’ll receive instructions, tips and ideas with these masterclasses to help your staff implement what they have learnt in the masterclass.

Our club members know the power of accountability to get things done. You know and I know that it’s easy to get sucked back into your comfort zone and do what you’ve always done. That is why every fortnight you will be invited to participate in an accountability group call to share your progress, solve your challenges, learn from your peers and be publicly accountability to what you want to achieve over the next fortnight.

And finally, we know you don’t want to reinvent the wheel as your grow your practice. This is why your membership includes a suite of downloadable resources which you can plug and play into your own practice. The resources include stuff like Xero training manuals for your staff and client, ready made Xero training sessions for clients, tried and tested process maps to automate the onboarding for your clients, electronic workbook for year end accounts production to mimimise overwork and duplication of effort… and much, much more.

Before I started working with Heather I had what I would describe as a magpie tendency in that I went from one new idea to another without implementing any of them properly.

Working with Heather has curbed me of this and as a result I have added over £100k of recurring fees to my portfolio, stopped the profit drain and quadrupled or more my net profit.

After 20 years of running a practice I’ve never been more energised or focused (and confident) to grow a million pound practice. It is in sight now and I know that I will get there within 5 years with Heather’s support and guidance.
Paul Miller

Owner, Cornish Accountants

Club membership levels

Club membership is for a minimum of 6 months. Join the pre-launch list to get tips on how to grow and scale your firm, as well as notification about launch and special launch offers for list members. The club events start in April 2018.

Who are the club members?

Members of the club all share one purpose, to profitably scale up their practice so that it annually turns over £1 million with a net profit margin of 40%+.

Club members are committed to growing their firm and realise this is not a “get rich quick scheme”. Members know that scaling their practice will take time and effort, and at times will take them out of their comfort zone.

Our members tend to fall into three camps, firstly ambitious owners of £80k-£2.3m turnover firms. (Yes, you did read that right, 14% of our members have firms which are turning over in excess of £1m)

Then we have over 20% of our members who are their firm’s “succession plan”. They have joined the club to take over from the present owner of the firm who wants to hand over their firm to someone who is ready and able to lead and manage the practice.

And finally we have firms who are doing well but want to increase their average client fee and the sustainability of their firm by adding in advisory revenue into their firm.

FAQs

When does the club launch?

The club launches in early February 2018 with the first club member events happening from April 1st 2018.

Book a call to see if the club is a good fit for you, your firm and your ambition.

How is this different to other mastermind/membership clubs for accountants?

The Accountants Millionaires’ Club isn’t a mastermind-type of group. You know the sort… where you pay £400-£1200 a month to meet monthly or quarterly to learn from your peers and be held accountable to your actions.

This is a community and set of resources where you:

Get to learn from the real experts. The people who have been there and done it.

Will be given practical help to implement everything you learn. This isn’t a club where you need to pay more to access all the best resources. Nor is it a club where you will be bamboozled by jargon or complexity. After all, our club founder, is well known for breaking down the complex stuff into easy to digest and implement bite size stuff.

Get access to plug and play resources to stop you having to reinvent the wheel in your practice, e.g. sets of role descriptions, Xero training manuals

Get access to monthly training sessions for your staff as well as you

Are held accountable on a fortnightly basis to your peers

Are learning from your accountancy peers who are all focused on the same thing as you, i.e. scaling your practice. And so, will be dealing with exactly the same challenges are you.

And… only if you want it… be able to join an exclusive quarterly mastermind group.

Join our pre-launch list to get notified about exclusive launch offers only for the pre-launch list and get to test drive the club’s resources.

Why do I need to commit to at least 6 months of membership

We only want accountancy firm owners who are truly committed to growing their practice. This is why there is a minimum membership.

In addition, many of the downloadable resources, such as the Xero training manuals, would cost you £1000s to buy separately.

Is there a trial membership available?

After launch there will be a trial membership of £50 for the first month. As a trial member you will be able to attend all the live virtual masterclasses, surgery sessions and group accountability calls. You wouldn’t be able to download any of the premium resources such as the Xero training manuals.

Can I pay by credit card?

Yes, we use Stripe as our payment processor.

How will the prices go up after launch?

The prices will stay the same for the first 12 months of the club. However, if you join the pre-launch list you will benefit from lower club membership fees for life.

Is this only for accountants?

Yes, this is purely for accountants who want to scale up their practice so it generates 40%+ net profit and hits the magic 7 figure mark, i.e. turns over more than £1 million pounds a year.

What events are being run for club members? Can non-club members attend?

Club members are invited to attend fortnightly group accountability calls and the 3 monthly virtual masterclasses. See here for a list of planned virtual masterclasses for 2018. There is no fee for the virtual masterclasses or accountability calls for club members. This is a prime benefit of your membership.

The virtual masterclasses are open to non-members to attend for a cost of £150 + VAT.

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